Nanhua Futures Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	605.29	486.26	457.97	401.85	246.06	243.6
Depreciation & Amortization, Total	50.25	50.25	48.88	46.43	46.75	29.01
Gain (Loss) On Sale of Investments	-181.53	-181.53	-75.19	-95.62	-54.58	-25.26
Change in Accounts Receivable	-8,433	-8,433	269.67	730.7	11.1	-2,341
Change in Accounts Payable	15,298	15,298	11,220	2,706	1,175	7,180
Change in Other Net Operating Assets	-353.26	-353.26	-170.49	-74.54	-273.08	-273.96
Other Operating Activities	17,034	76.67	102.17	72.16	38.54	0.94
Operating Cash Flow	24,077	7,001	11,862	3,778	1,251	4,948
Capital Expenditures	-36.07	-32.6	-10.95	-52.84	-31.71	-58.97
Cash Acquisitions	-13.35	-13.35	-1.02	1.9	-3.84	15.91
Investment in Securities	-5,329	-4,319	1,088	903.07	-1,284	-4,853
Other Investing Activities	1,869	-37.78	28.17	163.67	243.89	18.51
Investing Cash Flow	-3,509	-4,402	1,105	1,016	-1,075	-4,877
Short-Term Debt Issued	-	1,174	336.16	606.41	1,067	732.91
Long-Term Debt Issued	-	-	-	-	20.65	-
Total Debt Issued	1,320	1,174	336.16	606.41	1,088	732.91
Short-Term Debt Repaid	-	-928.84	-565.73	-923.67	-829.38	-817.83
Long-Term Debt Repaid	-	-21.71	-20.09	-19.15	-21.08	-17.08
Total Debt Repaid	-1,030	-950.54	-585.82	-942.82	-850.46	-834.91
Net Debt Issued (Repaid)	290.69	223.15	-249.66	-336.41	237.2	-102
Issuance of Common Stock	1,105	1,105	-	-	498.21	361.15
Repurchase of Common Stock	-	-	-50.1	-	-	-
Common Dividends Paid	-85.84	-84.06	-81.82	-85.35	-47.43	-24.27
Other Financing Activities	-9.4	-	-	6.9	3.04	30.68
Financing Cash Flow	1,301	1,244	-381.58	-414.86	691.02	265.56
Foreign Exchange Rate Adjustments	-155.93	-64.83	29.4	13.26	118.6	-33.25
Net Cash Flow	21,713	3,778	12,615	4,392	985.38	302.61
Free Cash Flow	24,041	6,968	11,851	3,725	1,219	4,889
Free Cash Flow Growth	798.01%	-41.20%	218.14%	205.47%	-75.05%	-0.38%
Free Cash Flow Margin	1534.53%	502.14%	870.54%	59.75%	17.87%	46.54%
Free Cash Flow Per Share	38.09	11.46	19.41	6.12	2.00	8.11
Cash Interest Paid	32.37	3.15	7.23	26.34	27.03	34
Cash Income Tax Paid	104.18	83.81	94.78	78.19	114.8	57.53

Source: S&P Global Market Intelligence. Capital Markets template. Financial Sources.